Financing- Trust Agreement - Laserfiche WebLink

Home Browse Search

12-14-9B 12:14 FROM- T-T88 P.O6/12 F-280 j {i) First, to the Credit Providers to the ~xient of any amot~nts owed so ihem by the ``- ~ County in respect of the Credic Facilities provided thzrehy; 3 ~ ~ (ii) Second, to the Trustee to the extenF of any amoun~s owed co it under this 5 Agreement; 6 7 (iii) Third, to the County as an overpayment of Financin~ Paymcnts; s ~ provided, however rhat the Trustee shall not so pay ta the County any am~~unts or investments bein~ lo heid for rhe payment of any Certificates which aze not yet due and payable- (inciudin~ but not limited t l to any Cer[ificates w•hich have been defeased pursuant to Section 230 he~•eofl or which have not yet i? been presented for paymeni, or for the payment of any Rebate Amount, bu t shal l retain such amounis 13 and invesunents and apgly the same to the payment of the Certificates oi Rebate Amount for which ~a they are bein~ held. -5 16 ~ ~ ARTICLE V i $ IN~ESTMENTS 19 3o SECTION 501. I~vESTMENT OE MON£YS HELD fN FU~DS. Any moneys held as part of 2~ the Cenificate Paymeni Fund (including aIl accounts therein), the Project Fund or any other fund ?? esrablished wiih and held by the Trustee pursuant to any Supplemen~al Agreemenc shall be inv~sted ~~3 or reinvested by the Trustee in Investmeni Securities in accordance w~th written directions of the ?~ County, or in the Trustee's discretion, in accordance ~vith oral direc~tions of the Counry to be ~5 confirmed in writin~; provided thut moneys on deposit in che 1998 Fns«rance Policy Account shatl z5 ont~ be invested iu ~Q~~r~n~ent.'.C~bli~t~Qns:~d. sh~l~. r~os.be comr~.ir~gfed:wi~ o~~r.fun~~~'s~r ' '~ ' ' . All such investments shall '-~ ~iu~?os~s o~'inv~~nz~r~t - L ~s mature not later~than the respective da~es esiimated hy the Count~ wh~:n the moneys in said funds ?Q shall be needed for the purposes provided in this A~reement, but shoui~i the cash balance in a fund 3o be ins~fficient for such a purpQSe, th~ Trustee is authorized to sell th~: necessary portion of such ; l invesunen[s to meet that purpose. All investments shall be deemed a pan of the fund from which the ~2 mon~ys used to arquire the investment were acquired, and all profits and iosses shall be credited or 33 char~~d to said fund. 3~i 35 The Trustee may make any and all such investments ihrough its own trusi or invesiment 3s department, or through any of its affiliates or sub~id'aaries. The Ttustee rnay act as principal or agent 3~ in the malcing or d.isposin~ of any investmen~ hereunder. The Trustee shall fumish to the Counry 3S periodic statements of account which include detail of all inveszmeiit transactions made by the 39 Trus~ee hereunder. .~o ~! SECTION 50?. ARBITR4GE CERTiFICATE COvEN4NT. The Cc~unty hereby covenants wi~h -~? the Owners of any Tax-Exempt Obli~ations issued hereunder tha~ i~ ~c•ill ,nal:e no use of the procceds FIN.a~C[NG A~1A TRi1ST AGREEMENT E~~GE 3~